Transforming raw data into meaningful insights has always empowered organizations to make informed decisions. And now, with artificial intelligence thrown into the mix, there have never been more opportunities — or capabilities — at hand to bridge the gap between available data and actionable insights....
A new computer chip could accelerate artificial intelligence (AI) applications, enhancing speed and efficiency in business operations. On Wednesday (March 6), EnCharge AI announced a partnership with Princeton University, supported by the U.S. Defense Advanced Research Projects Agency (DARPA), to develop advanced processors capable of running AI models. DARPA’s Optimum Processing Technology...
Corcentric, a provider of procurement and finance solutions, integrated generative artificial intelligence technology into its services. The enhancement, centered around using supervised machine learning and OpenAI’s GPT, aims to deliver enhanced levels of accuracy and efficiency to accounts payable (AP) invoice processing for its customers, Corcentric...
Anthropic’s new artificial intelligence (AI)-powered Claude 3 models beat competitors in many areas, experts told PYMNTS. The company, which released the models on Monday (March 4), claims that Claude 3 Opus — the most advanced among the new models — surpassed both OpenAI’s GPT-4 and...
Many consumers may still be hesitant about the future of artificial intelligence (AI) in commerce, but PYMNTS Intelligence research has found that young consumers are welcoming of the technology — for the most part. By the Numbers For the report “AI-Enabled Payments Enhance Customer Options,”...
OpenAI CEO Sam Altman is reportedly under scrutiny as part of an investigation by the Securities and Exchange Commission into whether his company misled investors as part of its November boardroom scuffle. The tête-à-tête saw Altman accused of not being “consistently candid in his communications with the board” and misrepresenting the...
In many ways, the insurance industry helped hone the algorithms behind artificial intelligence technology. From actuarial science, Bayesian statistics and generalized linear models, to cloud computing, telematics and advanced machine learning models, risk management models have always been designed to push the possibilities of prediction....
Digital insurance platform Lemonade said artificial intelligence helped it improve its loss ratio. The figure, the ratio of losses to premiums earned, improved by 12 points year over year, the company said in a Tuesday (Feb. 27) letter to shareholders announcing quarterly earnings results. “Our...
Creativity is inherent to the media industry and crucial to understanding the industry’s openness to and enthusiasm for experimentation and innovation. Its mission to offer engaging content also drives it to explore ways of enhancing creative capabilities while simultaneously streamlining elements of production processes, reflecting...
